Australian PM calls early election in bid to end decade of political chaos

Malcolm Turnbull, Australia’s prime minister, has called an early election for July 2, staking his political future on a pledge to lower taxes, cut spending and maintain a hard-line approach to migrants.

The former Rhodes Scholar and staunch republican met with the Governor General, the Queen’s representative, who accepted the prime minister’s request to dissolve both houses of parliament.

Australia will now enter one of the longest election campaigns in the nation’s history, pitting the ruling Coalition, which has emphasised economic growth, against the Labor opposition, which has emphasised fairness.

Polls show Mr Turnbull’s conservative Coalition is even with - or slightly behind - Labor.

But Mr Turnbull starts the campaign as favourite because of his high approval ratings and strong lead over his rival Bill Shorten as preferred prime minister.

A former leader of the republican movement, he has been in the public eye for decades but has never contested a federal election. He has been prime minister for just eight months after deposing Tony Abbott, a staunch conservative who won the 2013 election in a landslide but was personally unpopular.

"In a few years more than half of the world's middle class will be living in Asia," Mr Turnbull said.

"The opportunities for Australia are enormous."

Mr Shorten, 48, a former union leader and party powerbroker, has promised to remove tax concessions for property investors - a controversial move which is supported by many economists but could lead to lower housing prices.

Labor will fight for jobs, fight for education, fight to protect Medicare. We will always put people first. pic.twitter.com/0w3gzrWx5A